Proposal for the Distribution of available retained Earnings

Proposal for the Distribution of available retained Earnings
CHF December 31, 2014 December 31, 2013
Balance brought forward 32,281,871 37,238,992
Net income 215,413,866 186,729,478
Other 109,174 34,401
Available retained earnings 247,804,911 224,002,871
     
Shares and participation certificates as per bylaws of CHF 23,171,760 as at December 31, 2014 (CHF 22,864,210 in 2013)    
5% statutory dividend – 1,143,211
400% (90% in 2013) dividend – 92,687,040 – 20,577,789
Allocations to special reserves – 120,000,000 – 170,000,000
Balance carried forward 35,117,871 32,281,871
     
Allocation of requested capital contribution reserve to free reserves 75,308,220 126,896,366
Withholding tax exempt distribution CHF 325.– per dividend-bearing share / CHF 32.50 per participation certificate (CHF 555.– per dividend-bearing share / CHF 55.50 per participation certificate in 2013) – 75,308,220 – 126,896,366

1) Includes dividends not distributed on treasury stock held (CHF 243,191), dividends distributed on options exercised during the period January 1 to April 30, 2014 (CHF –148,742) and unclaimed, expired dividends (CHF 14,725)
2) Number of registered shares and participation certificates, status as at December 31, 2014. During the period from January 1 until record date (April 29, 2015), the dividend-bearing capital (the number of registered shares and participation certificates) can change as a result of additions and retirements within either class of treasury stock as well as the exercise of options, granted through the employee stock option plan. Consequently the allocation of the approved capital contribution reserve to free reserves will be adjusted accordingly.

For 2014 the Board of Directors proposes a total dividend of CHF 725.– per registered share and CHF 72.50 per participation certificate.

CHF 325.– per registered share and CHF 32.50 per participation certificate are distributed out of the approved capital contribution reserve (agio) and CHF 400.– per registered share and CHF 40.– per participation certificate are distributed out of retained earnings.